Gold advanced Thursday on rising investor confidence that the election of President Obama will mean a continuation of current federal efforts to stimulate the U.S. economy.

Gold futures for December delivery rose to $1,726 on Thursday, according to CME Group. Gold traded as high as $1,730.50 and as low as $1,712.60. Gold bullion closed in London at $1,735, according to BullionVault.

Silver futures for December delivery also gained, closing up at $32.24 per ounce. Thursday’s high for silver was $32.29, while the low was $31.63.

Gold and silver funds advanced in Thursday trading.

• The SPDR Gold Trust (NYSE:GLD) rose 0.9%.
• The iShares Gold Trust (NYSE:IAU) increased 1%.
• The iShares Silver Trust (NYSE:SLV) gained 1.8%.

Gold and silver mining ETFs were mixed during the day.

• The Market Vectors Gold Miners ETF (NYSE:GDX) moved up 0.7%.
• The Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) improved 0.9%.
• The Global X Silver Miners ETF (NYSE:SIL) dipped 0.2%.

Gold mining shares were mostly higher on Thursday, with Kinross Gold (NYSE:KGC) jumping ahead of the pack.

• Agnico-Eagle Mines (NYSE:AEM) gained 1.1%.
• Barrick Gold (NYSE:ABX) rose 0.7%.
• Eldorado Gold (NYSE:EGO) increased 2.4%.
• Goldcorp (NYSE:GG) advanced 0.5%.
• Kinross Gold surged 8%.
• Newmont Mining (NYSE:NEM) moved up 0.1%.
• NovaGold Resources (NYSE:NG) dipped 0.2%.
• Yamana Gold (NYSE:AUY) climbed 1.3%.

Silver mining shares were mixed on Thursday.

• Coeur d’Alene Mines (NYSE:CDE) dropped 2%.
• Hecla Mining (NYSE:HL) gained 2.5%.
• Pan American Silver (NASDAQ:PAAS) plunged 5%.
• Silver Wheaton (NYSE:SLW) climbed 1.2%.
• Silver Standard Resources (NASDAQ:SSRI) increased 1.6%.

As of this writing, Christopher Freeburn did not hold a position in any of the aforementioned securities. Adrian Ash of BullionVault contributed to this report.